Guide proves asset to value

The valuation of insurance company assets on a consistent basis throughout the European Union is tackled in a new publication by the European Group Valuers of Fixed Assets (Tegovofa).

A European directive on the Annual Accounts and Consolidated Accounts of Insurance Undertakings establishes a new definition of market value and requires all EU insurance undertakings to show market or current value in their balance sheets. The directive took effect at the beginning of 1995.

Copies of the guide are available by sending a cheque for £10 made payable to Tegovofa at 12 Great George Street, London SW1P 3AD.